It's been a long, eventful, seven days for Greece. CNBC recaps the big events that unfolded during this week-long Greek drama.» Read More
Opposing lawyers disputed the meaning of a medical report that said "rape" caused injuries sustained by the woman who has accused former IMF chief Dominique Strauss-Kahn of sexual assault.
"The problems in the European markets are based on a lack of clarity and a lack of a long term solution," Gemma Godfrey, head of research at Credo Capital told CNBC. "Things are getting a lot worse......the ECB is using debt to solve a problem of debt," she added.
A 15-day short selling ban , which will be implemented on Friday morning across several European countries, has attracted opprobrium from market participants, who see the restrictions as a superficial move that will do little to solve the underlying problems of the euro zone and stop market turbulence.
August is traditionally a time for financial market crises. The current one isn’t because of the usual “thin markets, long hot summer days, everyone on holiday” scenario though, this time investors have real, concrete issues to worry about, writes Moorad Choudhry,Head of Business Treasury, Global Banking & Markets at the Royal Bank of Scotland.
Nicolas Sarkozy, the French president, has given his finance and budget ministers one week to come up with new measures to cut France's crippling debt burden as concerns mount over prospects for growth and the country's ability to meet its deficit reduction targets. reported the FT.
Former IMF chief Dominique Strauss-Kahn sexually assaulted a housekeeper in a "violent and sadistic attack" in his hotel suite in Manhattan in May, a civil lawsuit filed on Monday alleges.
Germany is showing more commitment to the resolution of the euro zone debt crisis, and is likely to expect even greater influence on the fiscal discipline of its neighbors in return, analysts told CNBC.
The euro will collapse as a currency unless lawmakers, and especially Germany, can agree a common European tax regime and restructure some sovereign debt, a leading market analyst told CNBC.com after the European Central Bank intervened in the markets.
The European Central Bank is not worried about the health of the euro zone as a whole and it will stick to its role of fighting inflation, ECB president Jean-Claude Trichet told CNBC in an interview Thursday.
A French court on Thursday ordered an investigation into new IMF chief Christine Lagarde's role in a $400 million arbitration deal in favor of a controversial tycoon. Investigators will open an inquiry this week into possible charges of "complicity to embezzlement of public funds" and "complicity to forgery," prosecutors said.
The price of gold could almost double as central banks' reserves are depleted, according to the chairman of a gold industry association.
July's rate hike could well have been Jean-Claude Trichet's last as president of the European Central Bank, but markets will be watching for signals that the bank is preparing to take some role in future interventions in European markets, economists and analysts told CNBC.com.
Progress on the Greek government's structural reform program has been "impressive" and could succeed in reducing the country's debt to GDP (gross domestic product) ratio to sustainable levels, the Organization for Economic Cooperation and Development (OECD) said Tuesday.
Amid signs that the European debt crisis -- which already has seen Greece, Ireland and Portugal seek aid from the European Union and International Monetary Fund -- is now spreading to Italy, analysts at Goldman Sachs are predicting that while painful, debt consolidation will succeed as soaring borrowing costs force governments to act.
Bad economic news bombarded the UK Treasury on Monday as new International Monetary Fund forecasts cast doubt on the chancellor’s deficit reduction plan, the FT reports.
Should the return from a government bond should always sit below that of a bank asset? The almost universal answer to this question is yes, but this is not always the case, writes Moorad Choudhry, Head of Business Treasury, Global Banking & Markets, Royal Bank of Scotland.
"The world’s financial system could face losses equivalent to that of Lehman’s failure by August 15, and then again on the fifteenth day and the last day of every month until default is rectified,” says one chief economist.
Investors are unlikely to take up in sufficient numbers the voluntary swap scheme set up by the euro zone for Greek bonds because they will be tempted to sell at the higher prices found at the short-end, investment bank JPMorgan says.
Just days after European policymakers toasted a 109 billion euro ($156 billion) bailout aimed at hauling Greece back from the brink of insolvency, speculation some of its hapless bondholders might opt out of a crucial distressed debt exchange is gathering pace.
The high profile sex crime case involving former IMF chief Dominique Strauss-Kahn has taken an unexpected turn, with CNBC's Scott Cohn; Wendy Murphy, New England Law; Joe Digenova, Digenova & Toensing.